In Pokemon Red, the "risky strat," as I like to call it, involves skipping the two Rare Candies in Cinnabar Mansion. This works with 13-15 DV Speed (and 12 in very rare cases). This is usually faster, but it is riskier because you have less HP for Black Belt and are a lower level for the Elite Four. Here are the basic steps:
- Buy 11/4/4 (but need 5 X Speed and 2 fewer X Specials if using one on Viridian Rival)
- Get the PP Up
- Thrash the Machoke in Silph
- Rare Candy 0-1 times before Hypno (not twice, as it makes Black Belt much riskier)
- Save 6-7 EQ for Hypno
- Elixer after Hypno
- EQ Koga's first three Pokemon
- Teach Strength in Pallet Town before using the first three Rare Candies
- Go the mansion as normal, but skip the two Rare Candies. Get the Carbos if you have 13 DV Speed.
- Fight Erika first (EQ, IB, EQ) (can IB Vileplume with 15 DV Special)
- Fight Blaine next (X Acc strats)
- Fight Sabrina last (EQ x4; Venomoth is a range with low 15 Attack)
- Use X Acc strats on Black Belt
- Elixer after Black Belt
- Use normal Giovanni strats, but note that Nidoqueen is a range with low 15 Attack
- X Speed on Viridian Rival's Pidgeot (or X Special twice -- once on Pidgeot and once on Growlithe -- and TB Growlithe). Alakazam is a range if you don't X item on Growlithe unless 13-15 DV Attack. X Special strat is ~2 seconds faster with decent Special (Pidgeot is a range on anything but 15 DV Special)
- E4 strats are basically the same, but faster because you Drill Jynx and Alakazam. Also riskier because less HP, crit IB doesn't always kill Golbat, Haze creates a speedtie with Haunter on 14 DV Speed, first Dragonair is a range unless 12-15 DV Special, and Aerodactyl is a range unless 8-15 DV Special. X Speed on the second Dragonair.

Detailed notes below.

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Risky strat time save						Save		Added risk	Notes
-	14 DV Speed
	o	With good Attack and 15 DV Special		7 sec.		6-12%		L40 for Hypno (RC x1)
	o	With good Attack and 8 DV Special		5 sec.		6-12%		L40
	o	With good Attack and 7 DV Special		6 sec.		7-13%		L40; Aero range
	o	With good Attack and 4 DV Special		4 sec.		6-12%		L40-41; 2 XSpec Lance
	o	With average Attack and 15 DV Special		13 sec.		5-11%		L40-41; 2 XSpec VR (no range)
	o	With average Attack and 8 DV Special		9 sec.		5-11%		L40-41; 2 XSpec VR (range)
	o	With average Attack and 7 DV Special		10 sec.		6-12%		L40-41; 2 XSpec VR (range)
	o	With average Attack and 4 DV Special		7 sec.		6-12%		L40-41; 2 XSpec VR (range)
	o	With average Attack and 0 DV Special		7 sec.		6-12%		L40-41; 2 XSpec VR (range)
-	13 DV Speed						See above, but +6.5 sec.
-	15 DV Speed						See above, but +2 sec. (+3 with 13-15 Special)
NOTE: 7 EQ for Hypno is preferred to Lv. 41, but do what is necessary to survive Headbutt (use Potion if HP is 50ish)

Risky strat approach
-	If strat is possible at Brock, buy 8 Potions (8-9 if Hiker strats)
-	With 12 DV Speed, can do strat with Carbos if kill 3 Zubats + 15 stat exp. from Route 6 (or 2 Zubats, a Paras and 50 stat 
	exp. … or Spearow and 2 Zubats)
-	If strat is decently likely entering Vermilion, plan NOT to Rare Candy swap
-	Buy 11/4/4 in most cases (11/2/5 if not enough money and committed to it; 11/3/5 if average to bad Special; 11/4/5 if enough money)
-	With good Attack, commit to strat after splitting for Poke Flute
-	With average Attack, commit to strat after splitting for Koga
-	Always go for it with 6-8 Attack, 14 DV Speed and 7+ DV Special
-	Never go for it with 13 DV Speed and 0-6 DV Special
-	If anything else, depends on 1) time you need to save, and 2) HP/DEF DVs for Black Belt
-	Double X Special on Viridian Rival unless good Attack and average to bad Special and bought 5 X Speeds